Bank of England Poll Shows People Want Digital Currency More Than Cash

[PRIBO247]

T he Bank of England, aka the UK’s central bank, aka
“the Old Lady of Threadneedle Street,” posted a Twitter
poll earlier this week asking people how they would like
to receive money this Christmas. The vast majority preferred
“digital currency.”
The poll opened on December 17 and still has two more days
left for voting, so the results could change. But as of writing,
72 percent of the more than 9,700 people who responded voted
for digital currency. Cash has so far come in second, with just
20 percent of the vote, while bank transfers and gift vouchers
lag behind, with six and two percent of the vote, respectively.

“Digital currency” doesn’t necessarily indicate cryptocurrency.
Digital currencies can just be unregulated virtual currencies
that are fully controlled by their creators— like the V-bucks
used in Fortnite . There’s also central bank digital currency
(CBDC), or digital fiat currency, which is more of an idea that
an actual way to get money this holiday season. CBDC is like
fiat currency in terms of government regulation, except central
banks can issue it instead of the government. Some, like
crypto-naysayer Nouriel Roubini, believe that if implemented,
CDBC could be the end of cryptocurrencies. (The latest from the
Bank of England is that it has no plans to create a CDBC.)
The responses to this Twitter post, however, were exuberantly
pro-cryptocurrency. Some chided the “Old Lady” for beating
around the bush by using the term “digital currency” instead of
cryptocurrency.

An overwhelming majority of people who responded to the
thread promoted XRP, to the point where pro-bitcoin posters
figured they must be bots . (However, the XRP community is
extraordinarily engaged on Twitter.)
Regardless of which cryptocurrencies poll respondents
preferred, the enthusiasm for the overall concept is strong.
Then again, Twitter statistics must always be taken with a
grain of salt. Lots of cryptocurrency advocates follow central
banks as their moves are relevant to the future of digital
currency.
The Old Lady posted this poll to drum up interest in its
upcoming Future Forum , where attendees will discuss topics
like “how people in the UK use their money,” “what payments
they make and where,” “the Bank’s important role in
payments,” and “the changing face of banking.” Perhaps this
Twitter poll is more a reflection of this “changing face” than the
Old Lady realized.

https://breakermag.com/

[Hadley]

Indeed and I think in the near future, digital currency will replace the current fiat system so we can transfer money through multi nation more convenient